Hanwha Life Insurance Co., Ltd. (KRX:088350)

Hanwha Life Insurance Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	11,098,366	10,909,503	10,429,544	11,503,788	16,539,113	16,308,485
Total Interest & Dividend Income	4,159,067	4,131,676	4,143,174	4,372,018	3,744,107	3,714,267
Gain (Loss) on Sale of Investments	3,411,287	3,482,167	3,699,754	1,438,682	1,435,857	1,352,078
Other Revenue	3,529,525	3,254,116	3,465,444	3,452,089	2,046,584	2,735,521
Total Revenue	22,198,244	21,777,461	21,737,916	20,766,576	23,765,661	24,110,350
Revenue Growth (YoY)	6.55%	0.18%	4.68%	-12.62%	-1.43%	9.93%
Policy Benefits	13,170,616	12,621,352	13,314,356	10,535,803	15,923,878	15,891,773
Policy Acquisition & Underwriting Costs	-	-	-	-	1,186,927	738,213
Amortization of Goodwill & Intangibles	86,853	83,507	77,826	52,992	102,749	125,878
Depreciation & Amortization	125,717	112,293	84,379	60,308	40,698	40,325
Selling, General & Administrative	350,019	374,985	338,777	316,955	814,427	1,004,304
Other Operating Expenses	5,445,953	5,795,961	4,563,037	5,027,104	3,548,370	2,418,159
Reinsurance Income or Expense	-564,087	-590,285	-735,502	-824,796	-1,478,269	-1,336,768
Total Operating Expenses	19,982,873	19,822,949	19,262,335	16,864,226	23,859,784	22,468,146
Operating Income	2,215,371	1,954,512	2,475,582	3,902,351	-94,123	1,642,204
Interest Expense	-510,942	-494,482	-473,412	-271,306	-	-
Earnings From Equity Investments	-4,252	-2,540	-9,234	-56,426	100,973	4,694
Currency Exchange Gain (Loss)	1,796,354	2,244,837	563,883	715,546	1,796,120	-852,404
Other Non Operating Income (Expenses)	35,029	76,669	-24,146	88,170	165,351	-69,251
EBT Excluding Unusual Items	3,531,560	3,778,996	2,532,673	4,378,335	1,968,321	725,243
Gain (Loss) on Sale of Investments	-2,463,499	-2,607,902	-1,509,009	-3,089,616	-350,022	-446,100
Gain (Loss) on Sale of Assets	9,010	8,074	63,011	93,061	41,945	-4,156
Asset Writedown	-5,942	-6,180	-7,039	-2,248	-1,747	-67
Pretax Income	1,071,129	1,172,988	1,079,636	1,379,532	1,658,497	274,921
Income Tax Expense	277,722	306,987	253,655	209,054	409,337	66,674
Earnings From Continuing Ops.	793,407	866,001	825,981	1,170,478	1,249,160	208,247
Minority Interest in Earnings	-117,716	-128,747	-67,501	-140,149	-57,849	-6,133
Net Income	675,691	737,254	758,480	1,030,329	1,191,311	202,114
Preferred Dividends & Other Adjustments	37,344	28,343	37,766	88,808	95.98	96,514
Net Income to Common	638,347	708,911	720,714	941,521	1,191,215	105,600
Net Income Growth	32.57%	-2.80%	-26.38%	-13.51%	489.43%	101.27%
Shares Outstanding (Basic)	758	758	756	754	753	752
Shares Outstanding (Diluted)	758	758	756	754	753	752
Shares Change (YoY)	-5.33%	0.28%	0.22%	0.15%	0.09%	0.08%
EPS (Basic)	841.92	935.61	953.86	1248.89	1582.54	140.42
EPS (Diluted)	841.92	935.61	953.86	1248.89	1582.54	140.42
EPS Growth	35.96%	-1.91%	-23.62%	-21.08%	1026.99%	665.08%
Free Cash Flow	6,208,614	4,675,636	1,700,759	864,036	5,472,342	1,442,392
Free Cash Flow Per Share	8188.59	6170.87	2250.93	1146.11	7270.07	1918.03
Operating Margin	9.98%	8.97%	11.39%	18.79%	-0.40%	6.81%
Profit Margin	2.88%	3.26%	3.31%	4.53%	5.01%	0.44%
Free Cash Flow Margin	27.97%	21.47%	7.82%	4.16%	23.03%	5.98%
EBITDA	2,427,941	2,150,312	2,637,787	4,155,851	181,691	1,932,333
EBITDA Margin	10.94%	9.87%	12.13%	20.01%	0.77%	8.01%
D&A For EBITDA	212,570	195,800	162,205	253,500	275,814	290,129
EBIT	2,215,371	1,954,512	2,475,582	3,902,351	-94,123	1,642,204
EBIT Margin	9.98%	8.97%	11.39%	18.79%	-0.40%	6.81%
Effective Tax Rate	25.93%	26.17%	23.49%	15.15%	24.68%	24.25%

Updated Nov 13, 2024. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.